Hello All. I too was approached about selling my mineral rights 1/3 of 37.82 Acers @ Township 1, South range 3 West USM, Section 19, lot 1. left to me by my Mom for $250.00 an acre. I have no clue what it is worth an acer? can any body help me with this. I do know that I was notified that the Company: EP Energy/ E&P Company LP. had a request for Agency Action, Docket No 2018-022 Cause No. 139-154 with the State of Utah. And I think was granted drilling approval on the above section of land. $250.00 seems very low. Could anybody give me any advice?
If they are about to drill, then the offer seems low. Lots of times, a pending well causes lots of lowball offers to be mass mailed in hopes that some folks will sell. Any buyer expects to make a profit.
Thanks. The whole thing is very confusing. I am also the third gen on this Mineral deed.
I looked up the area, and your about one full township north of the core area of duchesne. I know that core duchesne goes for 3000+ , its hard to say how much yours are worth as im not familiar. A good rule of thumb is 3-4x the current leasing rate. Are yours leased? I don’t see any permits or anything in your immediate area.
I do not think so. We have never received anything for the rights up to this point. My grandmother back in the mid to late 1960. received monthly royalty checks. I think it ended in the 80’s and the two wells were caped.